JM buys 1,100 apartments in Vaxholm

JM buys 1,100 apartments in Vaxholm In a deal with Fastighets AB Tornet earlier this year, JM sold the Mörby offices in Danderyd and acquired approximately 1,000 apartments in Nacka. This deal also included a call option issued by Tornet relating to shares in AB Vaxholmsbostäder. JM is now exercising its option and acquiring all the shares in AB Vaxholmsbostäder and therefore 1,100 apartments in Vaxholm. The price of the shares is based on externally assessed property values at 31 December 2002 of approximately SEK 790m. "The acquisition of two attractive residential portfolios with very low vacancy rates which provide reliable cash flows will allow us to improve and develop attractive property portfolios with homes in Vaxholm and Nacka," comments JM's business area head Sten Hamberg. For additional information please contact: Sten Hamberg, JM AB, telephone +46 8 782 88 52 or Eva Eriksson, JM AB, telephone +46 8 782 88 99. Stockholm, 1 July 2003 JM AB Corporate Communications This and earlier press releases are also available at www.jm.se JM AB is a public limited company listed on the Stockholm Stock Exchange. JM has around 2,700 employees in Sweden, Norway, Denmark and Belgium, and sales in 2002 amounted to approximately SEK 9 billion. The company is Sweden's leading housing developer, and the core business is project development of residential and commercial properties in central areas of growth markets. JM's operations are characterised by a focus on quality and the environment. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/09/11/20030911BIT00620/wkr0001.doc http://www.waymaker.net/bitonline/2003/09/11/20030911BIT00620/wkr0002.pdf